Marine Fabricator September/October 2022 - 6

LogBook News
Textile industry prospers in
2022 despite challenges
A
Despite some
ongoing
challenges, most
respondents
believe the future
looks positive.
fter two years of uncertainty and
global crises, the industrial fabrics
industry is prospering, according to
the 2022 State of the Industry Report
conducted by the Advanced Textile
Association (ATA, formerly IFAI).
Nearly 300 ATA members responded
to the annual survey. Despite some
ongoing challenges, most respondents
believe the future looks positive.
A sunny outlook, with some clouds
A majority (53%) of respondents
reported their revenue had gone
up compared with 2021, with 32% of
respondents seeing an increase of more
than 10% from the prior year. However,
revenue had decreased for 21% of
respondents, with 12% reporting their
revenue declined by less than 10%.
The pandemic meant 2021 was
a " perfect storm " of unpredictable
factors. These include infl ation,
supply chain delays, maintaining
or increasing production capacity
and increased shipping costs. Nearly
three-quarters of survey respondents
reported being affected by:
* The struggle to fi nd skilled
workers. More than half continued
to have trouble fi lling both fulland
part-time positions.
* Increased remote work options.
31% said that between 50 and 74%
of their employees were now working
remotely. More than 62% of respondents
expected COVID-related concerns
to continue throughout the year.
* Increasing prices charged to
customers. Nearly half (49%) raised
prices by 10 to 20%, while 13% of
respondents raised prices by more
than 25%. Less than 8% have seen no
price increases. Nearly 63% said they
were passing on costs from suppliers.
Other reasons included higher taxes
or other government fees (31%),
increased wages for employees (58%),
higher rent or facility costs (29%) and
investing in new equipment (24%).
Future growth pegged to supply chain
Looking to the future, 60% of respondents
said the two most important factors for
business growth in the next two years were
improvements to the supply chain and
logistics. Also on the list: Implementing
automation (49%), employee
development programs (50%), product
diversifi cation (45%), and research and
development of new products (53%).
Nearly 48% of survey respondents
expected to enter a wide variety of new
markets in the next few years.
HOW MUCH HAVE THE RAW MATERIAL/FABRIC PRICES
YOU ARE PAYING TO SUPPLIERS INCREASED?
19.74%
More than
25 percent
6 Marine Fabricator | September/October 2022
50%
10 to 25
percent
17.11%
1 to 10
percent
9.21%
No change
3.95%
Decrease

Marine Fabricator September/October 2022

Table of Contents for the Digital Edition of Marine Fabricator September/October 2022

Marine Fabricator September/October 2022 - Cover1
Marine Fabricator September/October 2022 - Cover2
Marine Fabricator September/October 2022 - 1
Marine Fabricator September/October 2022 - 2
Marine Fabricator September/October 2022 - 3
Marine Fabricator September/October 2022 - 4
Marine Fabricator September/October 2022 - 5
Marine Fabricator September/October 2022 - 6
Marine Fabricator September/October 2022 - 7
Marine Fabricator September/October 2022 - 8
Marine Fabricator September/October 2022 - 9
Marine Fabricator September/October 2022 - 10
Marine Fabricator September/October 2022 - 11
Marine Fabricator September/October 2022 - 12
Marine Fabricator September/October 2022 - 13
Marine Fabricator September/October 2022 - 14
Marine Fabricator September/October 2022 - 15
Marine Fabricator September/October 2022 - 16
Marine Fabricator September/October 2022 - 17
Marine Fabricator September/October 2022 - 18
Marine Fabricator September/October 2022 - 19
Marine Fabricator September/October 2022 - 20
Marine Fabricator September/October 2022 - 21
Marine Fabricator September/October 2022 - 22
Marine Fabricator September/October 2022 - 23
Marine Fabricator September/October 2022 - 24
Marine Fabricator September/October 2022 - 25
Marine Fabricator September/October 2022 - 26
Marine Fabricator September/October 2022 - 27
Marine Fabricator September/October 2022 - 28
Marine Fabricator September/October 2022 - 29
Marine Fabricator September/October 2022 - 30
Marine Fabricator September/October 2022 - 31
Marine Fabricator September/October 2022 - 32
Marine Fabricator September/October 2022 - 33
Marine Fabricator September/October 2022 - 34
Marine Fabricator September/October 2022 - 35
Marine Fabricator September/October 2022 - 36
Marine Fabricator September/October 2022 - 37
Marine Fabricator September/October 2022 - 38
Marine Fabricator September/October 2022 - 39
Marine Fabricator September/October 2022 - 40
Marine Fabricator September/October 2022 - 41
Marine Fabricator September/October 2022 - 42
Marine Fabricator September/October 2022 - 43
Marine Fabricator September/October 2022 - 44
Marine Fabricator September/October 2022 - 45
Marine Fabricator September/October 2022 - 46
Marine Fabricator September/October 2022 - 47
Marine Fabricator September/October 2022 - 48
Marine Fabricator September/October 2022 - cover3
Marine Fabricator September/October 2022 - cover4
Marine Fabricator September/October 2022 - MFConf1
Marine Fabricator September/October 2022 - MFConf2
Marine Fabricator September/October 2022 - MFConf3
Marine Fabricator September/October 2022 - MFConf4
Marine Fabricator September/October 2022 - MFConf5
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